Modernization of Nicaragua's Corinto Port will boost national and regional trade with CABEI support

Managua, March 18th, 2022.- Contributing to the socioeconomic development of Nicaraguans, work is progressing to improve the operational capabilities of Puerto Corinto, where one of the main objectives is to provide a more efficient service to ships in the future, developing loading and unloading activities with systems and tools that will reduce by more than 50% the time currently used for this activity.

This program, which includes the construction of 15,944 m2 of dock area, container and general cargo terminal yards, a bulk terminal, reorganization of the port precinct, 298.4 m2 of walkway area at the cruise terminal, the San Isidro Logistics Center, dredging of the port's access channel and dock, among others, is supported by the Central American Bank for Economic Integration (CABEI) with US$184 million.

"We are pleased that our partner countries prioritize this type of initiative, which represents the strengthening of the country's competitiveness in the international trade field, as well as the generation of jobs and support for tourism promotion," said CABEI Executive President, Dr. Dante Mossi.

In addition to these works, the initiative will enable the acquisition of equipment for the efficient operation of such infrastructure, the port and logistics center in general (pilot boat, tugboat, mobile cranes and cranes, front loaders, forklifts, bulk loading and unloading system, among others), as well as a specialized technological infrastructure system for ports that integrates all the operational and administrative processes related to the automated handling of ships and cargo.

Puerto Corinto is the country's main port and the second most important in terms of cruise ship arrivals. It has been internationally certified as a "Safe Port" since June 2004.  In addition, it strictly complies with the port and maritime security measures established by the International Maritime Organization (IMO) and is constantly supervised by the Aquatic Transportation General Directorate (DGTA).

"After the improvements to the port, it will be possible to handle international cargo and ships, boosting national and regional trade by making conditions more competitive, thus benefiting the country's producers and consumers, and promoting the movement of 39,355 additional passengers per year," said Virgilio Silva, executive president of Empresa Portuaria Nacional (National Port Company).

Recently, the maintenance dredging of 710,129 m3 of the Access Channel and Maneuvering Basin and the construction of a land platform or containment dock in the area of the old banana dock in the Port were completed, which ensures the safe entry and exit of vessels.

Four main benefits

1. Improvement of the country's competitiveness: increase in trade flows with the expansion of capacity and efficiency in the services it provides.
2. Tourism development: with the construction of a terminal exclusively for cruise ships and their passengers, the frequency of arrivals and the length of stay of cruise ships will increase.
3. Creation of development poles: the creation of development poles will be fostered by meeting the goods and services needs of these infrastructures, their employees, and the institutions or companies linked to the port, logistics, and transportation industries.
4. Job creation: it is estimated that 566 direct jobs will be created during the execution of this initiative and 134 new jobs will be created during its operation, plus the indirect jobs that will be created.

In 2021, this multipurpose port received a total of 493 vessels. It has 4 berths where 3 vessels are served at a time and a special liquid cargo berth exclusively for vessels with this type of cargo.

Regional competitiveness is a priority for CABEI, so the modernization of this port will help boost its member countries by increasing the trade flow.  It is estimated that the works will be completed in 2025.